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Cited by 565

The DOI matches its Crossref record; 33 of the 33 references it cites were found in a registry or an index.

Aggregate Confusion: The Divergence of ESG Ratings

Open access
Berg, Florian, Kölbel, Julian, Rigobon, Roberto·2019·SSRN Electronic Journal
DOI 10.2139/ssrn.3438533
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Abstract

This paper investigates the divergence of environmental, social, and governance (ESG) ratings. Based on data from six prominent rating agencies - namely, KLD (MSCI Stats), Sustainalytics, Vigeo Eiris (Moody's), RobecoSAM (SP Global), Asset4 (Refinitiv), and MSCI IVA- we decompose the divergence into three sources: different scope of categories, different measurement of categories, and different weights of categories. We find that scope and measurement divergence are the main drivers, while weights divergence is less important. In addition, we detect a rater effect where a rater's overall view of a firm influences the assessment of specific categories.

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Metadata

Authors
Berg, F., Kölbel, J., & Rigobon, R.
Venue
SSRN Electronic Journal
Publisher
Elsevier BV
Published
2019
ISSN
1556-5068 (ISSN-L)
DOI
10.2139/ssrn.3438533
OpenAlex
W2969781339
Cited by
565
References
33
Type
posted content
Language
en
Open access
green

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